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Non-Tech : Derivatives: Darth Vader's Revenge -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (66)	9/10/1998 8:14:00 AM
From: Worswick	Read Replies (2) \| Respond to of 2794

Subject: Monetary System in Trouble Author: WCrimi Email: wcrimi@aol.com Date: 1998/08/18 Today's stock market rally was essentially nonsense. One might call it a "Dead Eagle" bounce. The fundamental developments over the weekend were somewhere between poor and a disaster. Russia's devaluation of the Ruble is yet another indication that the Asian crisis that began a little over one year ago is not an Asian crisis at all. It is the slow systematic breakdown of the current international monetary system. This breakdown has now reached Eastern Europe and Africa with much of Latin America also under extreme pressure. Even our neighbor to the north, Canada, is under pressure and a significant decline in the Canadian dollar seems likely shortly as that commodity export nation weakens. The U.S. may be the largest and last domino to fall, but it will not remain immune forever. Pay little attention to Wall St. spin masters who are in the process of talking up stocks at present. They were clearly wrong about the severity of the crisis now slowly spreading across the globe last year and they are wrong now. This is most likely is a once in a generation event that will proceed slowly over the coming months eventually reaching our shores and culminating with a severe U.S. bear market. Now is not the time to be bold. There are few, if any, bargains out there. The best opportunities are to come in the meltdown that may be as little as several months away and at most a year or two. Conserve cash. Cimi is a very, very conservative chap. He runs the Value Investor's Workshop at members.aol.com My best to you all, Clark